CNBC's latest franchise valuation report dropped, and the New York Rangers stood out for a number of positive reasons. The Broadway Blueshirts previously drew acclaim in a ranking conducted by Sportico, and the newest listing includes a few interesting details.
CNBC values New York Rangers at $3.8 billion
The latest ranking has the Rangers as the NHL's most valuable American franchise, and the second most valuable in the entire NHL. The Toronto Maple Leafs are worth $4.3 billion, but the Rangers did something better than every organization in the league, and that's gate revenue.
Per the report, the Rangers made $179 million in regular season gate receipts, which was clear and away the highest in the league. What is impressive is that the Rangers generated the money they did while having one of the most disappointing seasons in recent memory. They also did this while seeing attendance decline slightly year over year.
To that point, over the last four seasons the Rangers have brought in $615 million, and that's $152 million more than the Leafs who came in second at $463 million during that span. The Rangers were very successful in the three seasons prior to last year, and it is no surprise to see that they printed the money they did.
CNBC noted that the Rangers' valuation is impressive because they saw their local TV rights take a cut of 18% as part of MSG Networks restructuring their debt. MSG Networks had been involved in a dispute with Altice, formerly Optimum, and fans were unable to watch games on TV for a couple of weeks last season.
Other notable facts from CNBC rankings
The Rangers' total revenue for the last year was $322 million which was fifth in the league. The Edmonton Oilers raked in $431 million, which makes sense given that the team made another Stanley Cup run.
As a whole, revenue was up in the league to an average of $243 million per team, which is up 9% overall. If you are interested in checking out the full report, which includes individual facts and listings for each organization, you can see more here.
#NHL #SquawkBox CNBC’s Official NHL Team Valuations 2025: Here’s how the 32 franchises stack up https://t.co/jlARNI5zhK
— Mike Ozanian (@MikeOzanian) November 25, 2025
The Rangers remain one of the more high profile teams in all of sports, and that comes from playing in a building as historic as Madison Square Garden, and from being owned by the same organization that controls the New York Knicks. The synergy between the two organizations helps boost overall value, and in all likelihood the two teams would be a package deal in the event James Dolan ever looked to sell.